Sympathy

Natural gas futures jumped higher Wednesday afternoon in sympathy with a similar rise in the petroleum complex, which was sparked by an escalation of turmoil in Nigeria and U.S. refinery outages. After putting in a low of $6.560 in morning trade, June natural gas took off higher in the afternoon to record a high of $6.920 before closing at $6.900, up 31.9 cents on the day.

After skyrocketing in morning trade on petroleum futures sympathy to reach a high of $7.43, July natural gas futures were not able to hold onto the gains as the afternoon continued Wednesday.

After opening lower, the natural gas futures market turned up Monday as traders bid prices higher in sympathy with stronger crude oil prices and ahead of what is expected to be a bullish storage report this Thursday. The March contract finished the session at $6.321, up 6.2 cents for the session and 20.1 cents above its morning low. By comparison, the natural gas 12-month strip, which was not as weak on the open, managed a 9.4-cent gain to average $6.682 Monday.

Following Monday’s 12.7-cent check higher, January natural gas futures followed along with the rest of the petroleum complex in trolling lower for support on Tuesday. The prompt month hit a low on the day of $6.58 before settling a few minutes later at $6.621, down 30.2 cents.

Following Monday’s 12.7-cent check higher, January natural gas futures followed along with the rest of the petroleum complex in trolling lower for support on Tuesday. The prompt month hit a low on the day of $6.58 before settling a few minutes later at $6.621, down 30.2 cents.

With a little encouragement from the petroleum complex’s sizeable losses on the day, January natural gas futures found their way below the $7.40 level briefly before settling at $7.413, down 20.7 cents on the day. Attention now turns to the Energy Information Administration’s (EIA) natural gas storage report release Thursday morning, where there are still more questions than answers.

With a little encouragement from the petroleum complex’s sizeable losses on the day, January natural gas futures found their way below the $7.40 level briefly before settling at $7.413, down 20.7 cents on the day. Attention now turns to the Energy Information Administration’s (EIA) natural gas storage report release Thursday morning, where there are still more questions than answers.

Trading on technical factors and influence from the liquid hydrocarbons, December natural gas futures explored lower on Tuesday. The prompt month notched a low on the day of $8.46 before settling at $8.567, down 15.3 cents on the session.

Trading on technical factors and influence from the liquid hydrocarbons, December natural gas futures explored lower on Tuesday. The prompt month notched a low on the day of $8.46 before settling at $8.567, down 15.3 cents on the session.